37. Not the number from which the meaning of life, the universe, and everything can be derived, but the average number of software tools and platforms that high-growth businesses use today. For enterprises, this number goes up to 90. From billing systems and CRMs to marketing platforms, project management and productivity tools, there’s a BI tool for everything.
Imagine the wealth of customer and business insights that lie in a tangle of data within these platforms? If you could only see them all in one place, the data would shift and turn, revealing a kaleidoscope of patterns and perspectives that, in turn, might inspire an Aha moment for your business.
But without a single, universal source of truth, your planning and OKR review meetings will end up being debates about whose numbers are accurate rather than about connecting the dots and figuring out solutions. And if you want a slightly different cut of the data, it’s back to the spreadsheets for everyone and yet another delay.
Sure, that’s why you have analysts and engineers. They work hard on this data, waiting for access, following up with different teams for numbers, running SQL queries, and juggling a dozen spreadsheets. The question is—do they have to?
When spreadsheets were saviors
In the early days of a business, simplicity is your ally and Excel or Google Sheets work just fine to manage basic data, run initial analyses, track customer data, and so on. They work fine when your operations are small and straightforward. However, as your business starts to grow, your need for data-driven decision making becomes more critical.
You need business metrics reporting to figure out where to deploy marketing dollars, what’s the ROAS on certain expenses, identify opportunities for expansion, and in general, make smarter decisions everyday. Excel or Google Sheets just cannot give you the comprehensive view you need at this stage. They aren’t designed to handle the complexities and volumes of data that fast-growing businesses generate. They require manual effort, leading to lag in data reporting, and are often error-prone as your data ecosystem expands. You need something more powerful, agile, and tailored to your needs.
Legacy BI: Bulldozers to squash flies
On the other end of the spectrum, there are legacy BI tools and analytics platforms (you know who they are!) Setting these up involves configurations and data integrations that can be a daunting task if you have a small data team or limited technical expertise. The longer the implementation process, the longer you wait to start using your data effectively.
These business intelligence platforms typically have a steep learning curve. Training your team, especially business users without a tech background, to use them effectively can be painful and will need engineers’ support. Do you really have the luxury of taking your engineers away from their core building activities?
To keep these BI reporting tools running and get real value out of them, you will need to build a data team, which takes time and a lot of effort. Most importantly, legacy BI tools are designed with large enterprises in mind, not nimble startups and SMEs. For businesses in the early high-growth phase, using legacy BI tools can feel like trying to fit a square peg into a round hole. They're just not agile enough to keep up with your changing needs, and the time and effort required for implementation just won’t make sense. Lastly, these business intelligence and data visualization platforms come with a hefty price tag that you just may not be able to justify.
Which is why: DataviCloud
We are building DataviCloud to give young, hungry, fast-growing businesses a cockpit view of your data, so you can make efficient, informed decisions faster. Here’s how DataviCloud compares to existing BI reporting tools or analytics and data visualization platforms.
We have designed DataviCloud to be:
1.Simple to set up & run: Whether you’re a hands-on founder or a data-savvy BizOps professional, you can get DataviCloud up and running in just 30 minutes. No coding knowledge necessary.
2.Data team agnostic: You may have one engineer who runs the numbers for every team, a small, dedicated data team who loves querying, or absolutely no one at all. We support every scenario. DataviCloud can be low-code, no-code, or pro-code, depending on your needs.
3.Customized to your vertical: What KPIs are others in your industry tracking? What metrics should inform your GTM strategy? We give you templates, dashboards, and reports customized to your industry/vertical, so you never have to grapple with blank page syndrome. We’re also working on smart visuals and animations, so you can present your findings better.
4.Fairly priced & affordable: We believe that no firm, especially young and growing ones, should feel they’re flying blind amidst turbulence, which is what the post-pandemic data environment feels like. Which is why DataviCloud will always be simply, fairly, affordably priced for startups and SMEs.
Want to know more about what we’re building and how it can help you create a robust data environment at your fast-growing business? Leave your details and we’ll get in touch for a detailed chat and a demo.
